Halkbank Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Turkiye Halk Bankasi (Halkbank or the Bank) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Halkbank’s Bank Standalone Rating (BSR) of ‘b’, Core Financial Strength (CFS) rating of ‘b’ and Extraordinary Support Level (ESL) of Moderate. The Outlook on the LT FCR and BSR remains Stable.

The affirmation of the Bank’s ratings is supported by its government ownership, which in turn has provided regular capital injections to fund business growth, a well-established franchise with leading market shares in the lower-risk cooperative loan segments, and a still sound asset quality – despite the rise in NPLs in 2024 – with limited borrower concentration risks and moderate exposure to volatile sectors. The ratings are constrained by the Bank’s low operating and…